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Posted by
Dashford
on 2008-05-20

PUBLIC:

Before we were even ready to raise any funding we approached Accel in London and specifically identified Avid Larizadeh because of her experience at eBay.

We asked for a conference call with her to validate our plans, ie "we're not ready to ask for funding yet but we want to start a dialogue with you early to ensure we are going about things the right way".

She replied promptly and we ended up holding an hour long conference call where we went through our plans. She provided some great feedback, especially about our choice of technology, the type of metrics that are important and our financials. In general, I think she liked our concept but stressed that it is all about the metrics and not really about whether anyone likes our concept!

We took on board her feedback and made some changes.

We've kept Avid updated on our progress and plan to approach Accel for series-A funding in 3 to 6 months.